Calculation formula of social security payment standard

Calculation formula of social security collection

Pension calculation formula: monthly pension = monthly basic pension+monthly personal account pension, where:

Monthly basic pension = (the average monthly salary of all employees in the province in the previous year+my indexed monthly average payment salary) ÷2× payment period × 1%.

Personal account pension = personal account balance ÷ months.

When is the social security retirement salary paid every month?

Social security pension is transferred to the account by the Social Security Bureau on the 10th of each month. The date of pension payment agreed in different regions is also different. In order to alleviate the peak caused by receiving pensions, they are paid in batches; There may be differences in regulations in different regions. It is suggested to consult the local social security bureau, or ask people who have pensions around them to find out when to pay pensions.

Where can I check the social security retirement salary?

You can choose your own query method according to the following conditions.

1. social security center inquiry

If you don't know your social security account number, you can bring your ID card to the business hall of social insurance agencies in various districts to inquire.

Online inquiry

Log in to the city's labor security network or social insurance business website, click the "Personal Social Security Information Inquiry" window, and enter my ID card and password (the password is your social security number or the date of birth of your ID card) to inquire about my enrollment and retirement information.

What is the social security retirement salary related to?

The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc. Individuals who participate in the basic old-age insurance can only receive the basic old-age pension on a monthly basis if they have paid at the statutory retirement age for fifteen years. When moving from one city to another, the basic old-age insurance relationship will be transferred, and the payment period will be calculated cumulatively. You can't just accept the amount and not the term.

According to Article 15 of People's Republic of China (PRC) Social Insurance Law, the basic pension consists of overall pension and individual account pension. The basic pension is determined according to factors such as individual cumulative payment years, payment wages, average salary of local employees, personal account amount, average life expectancy of urban population, etc.

With reference to Article 16 of the Social Insurance Law of People's Republic of China (PRC), individuals who participate in the basic old-age insurance will receive the basic old-age pension on a monthly basis when they reach the statutory retirement age and have paid for 15 years.